Sell to anyone... or focus on specific industries

Discussion in 'General Business Forum' started by Ashley_Price, Feb 19, 2018.

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  1. Ashley_Price

    Ashley_Price UKBF Legend Full Member - Verified Business

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    At the weekend I was reading a book called Selling to Big Companies (by Jill Konrath).

    In it, one of her major suggestions is you limit who you market to. Rather than trying to get sales from anywhere, you target two or three industries (or just one if you think it's big enough). This has two advantages:

    1/ You spend less money and time promoting your business, because your marketing is far more focused - as opposed to having to do a different campaign for each industry;

    2/ You can learn more about one or two industries and therefore be able to talk intelligently with the decision makers in those industries, so will become trusted and respected far quicker than if you are trying to be a "Jack (or Jill) of all trades".

    What do you think? Do you market to all and sundry, or do you just focus on two or three industries that are most likely to need your product or service? What has been your experience?
     
    Posted: Feb 19, 2018 By: Ashley_Price Member since: Feb 9, 2008
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  2. Mark T Jones

    Mark T Jones UKBF Big Shot Full Member

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    I've learned this lesson the hard way.

    In a nutshell, marketing is a bout a million times more effective if you know and understand who you are marketing to.

    ultimately, you can't actually present a benefit until you know who your prospect is.
     
    Posted: Feb 19, 2018 By: Mark T Jones Member since: Nov 4, 2015
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  3. Ashley_Price

    Ashley_Price UKBF Legend Full Member - Verified Business

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    This is what I learnt from the book and, as I sat there and thought about it, it was obvious as I know more about three main industries, who also happen to be the three industries who have used me the most over the years. So, I'm now targeting those (see my signature).
     
    Posted: Feb 19, 2018 By: Ashley_Price Member since: Feb 9, 2008
    #3
  4. DavidWH

    DavidWH UKBF Enthusiast Free Member

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    We advertise to all businesses, but unlike other companies who advertise "van signs from £99", we purposely don't. Our prices start from £125+VAT, but being honest most of the vans we sign, we charge out for much more.

    So yes we market to all and sundry, but use our pricing to filter out those shopping on price alone.

    We can do 1 van, and make more money than what someone can make doing 5 @ £99.

    As we're not bogged down, churning cheap work out, we can provide a superior service... doing something as simple as turning up when we said we would :rolleyes:
     
    Posted: Feb 19, 2018 By: DavidWH Member since: Feb 15, 2011
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  5. AllUpHere

    AllUpHere UKBF Ace Free Member

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    Always, always market to specifics. The more targeted your marketing the more effective it is. If your marketing completely alienates 999/1000 people the .1 % will convert well.
     
    Posted: Feb 19, 2018 By: AllUpHere Member since: Jun 30, 2014
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  6. Ashley_Price

    Ashley_Price UKBF Legend Full Member - Verified Business

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    This has always been a big part of my service. Yes, there are a lot of people out there that charge far less than I do for audio transcription, but it's interesting how often a prospect goes off and uses one of these cheaper firms, then has to come back to us because the job wasn't done to their satisfaction.
     
    Posted: Feb 19, 2018 By: Ashley_Price Member since: Feb 9, 2008
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  7. Peter Bowen

    Peter Bowen UKBF Enthusiast Free Member

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    I started to focus on a single aspect of my business (AdWords lead generation for offline businesses) a few years ago.

    It felt pretty scary turning down clients who wanted something we can do but are outside narrow focus but it's been a real winner. I wish I'd done it from the start.

    Marketing is easier.
    Selling is easier.
    Pricing and proposals are faster.
    Doing the work is easier.
     
    Posted: Feb 19, 2018 By: Peter Bowen Member since: Jul 2, 2007
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  8. Mark T Jones

    Mark T Jones UKBF Big Shot Full Member

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    it's counter intuitive and a bit scary - you keep thinking about all those people who won't get the message. It doesn't matter, they aren't getting it anyway.

    I could do a full self -case study here. Suffice it to say, my product is business loans and leasing,, like several others on here. However since my clients are predominantly hotels and restaurants, it becomes bespoke funding for fit-outs.

    Plus, increasingly I can communicate with them in the language of hotels, not the language of lending
     
    Posted: Feb 19, 2018 By: Mark T Jones Member since: Nov 4, 2015
    #8
  9. Nochexman

    Nochexman UKBF Enthusiast Free Member

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    Target specific industries... and be willing to sell to anyone.
     
    Posted: Feb 19, 2018 By: Nochexman Member since: Jun 14, 2011
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  10. Ashley_Price

    Ashley_Price UKBF Legend Full Member - Verified Business

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    The book kind of hit home, because in a couple of weeks' time I am going to a business lunch with 46 (so far) people booked on, many of whom will be representing some bigger local legal firms and it seemed to me, if they look at my website afterwards, they'd think I work for anyone, and I want them to see that I do understand their industry.
     
    Posted: Feb 19, 2018 By: Ashley_Price Member since: Feb 9, 2008
    #10
  11. AllUpHere

    AllUpHere UKBF Ace Free Member

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    If your targeting is done well enough, your service shouldn't even appeal to those outside of your niche. If your marketing is spot on those who aren't your ideal target should know not to contact you.
     
    Posted: Feb 19, 2018 By: AllUpHere Member since: Jun 30, 2014
    #11
  12. Mitch3473

    Mitch3473 UKBF Regular Free Member

    1,029 243
    We started out marketing to a niche type customer then realised something was wrong. A few potential clients from the same sector but more commercial spoke to us and we immediately changed tack and aimed our marketing at them. Even though we still have some peripheral business from the original marketing we turn that work down know as it's nowhere as near as profitable. It works, it pays and it's much easier. Usually.......
     
    Posted: Feb 19, 2018 By: Mitch3473 Member since: Aug 25, 2011
    #12
  13. LiveNetworks Ltd

    LiveNetworks Ltd UKBF Regular Free Member

    204 41
    Yep, got to be specific, we started out with social media advertising to an area but covering everyone. After 2 weeks, we'd figured out, 99% of purchases were female aged 25 to 45 on mobile devices so from that point on, the return on advertising tripled.

    For the commercial side of the business, there's about 500 local businesses that are big enough to deliver what we'd consider viable for regular long term business and in reality getting 10 of those to convert would be heaven.
     
    Posted: Feb 19, 2018 By: LiveNetworks Ltd Member since: Jan 31, 2018
    #13
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